China's rural policy bank ADBC reports assets of 7.1 trln yuan
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E-mail Xinhua, July 21, 2019
BEIJING, July 20 (Xinhua) -- The Agricultural Development Bank of China (ADBC), the country's only rural policy bank, reported its assets reaching 7.1 trillion yuan (1.03 trillion U.S. dollars) by the end of June.
The bank's outstanding loans exceeded 5 trillion yuan while its non-performing loan ratio stood at 0.68 percent.
The data was disclosed Friday at the bank's first meeting of the board of directors.
Calling the establishment of the board of directors as a milestone in its history, the ADBC said in a statement that it will continue to focus on major fields in the development of agricultural industry and rural areas as well as poverty reduction.
Established in 1994, the ADBC is under the direct leadership of the State Council to raise funds through a market based on national credit to support the development of agriculture, rural areas and farmers. Enditem
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